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Stossel

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Us 10, America 6, United States 5, Google 4, China 2, Yugoslavia 2, India 2, Soc Ial 1, Grandma 1, Indians 1, Petrified 1, Wantin 1, Flo 1, Lotsf 1, Antonia 1, James Cameron 1, L. John 1, Li John 1, Max 1, Dario 1,
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  FOX Business    Stossel    News/Business.  (2012) New.  

    December 27, 2012
    9:00 - 10:00pm EST  

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than 40,000. she wanted it taken down but this battle lot of people wondering if they were concerned or confused by the privacy setting so we asked if it was too confusing? and next guest says there is no such thing and it only makes us feel good. >> apparently privacy settings are only as smart as the user. >> yes but they will do whatever they want and then privacy policy confusing? yes. if you are lucky enough we will read your tweet on the air. we will see you tomorrow.ic
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>> biological attack is possible. >> the media tells us life>> p is horrible and it's getting worse. but >> poverty is worse. >> but it misses the big>> picture. >> i saw my mother used aram. washing machine for the first time in her life. >> his grandmother was thrilled by a washing machine. >> she watched the entire program. the machines coming next are more mesmerizing thanks to competition.e and cars and spaceships maybe they will invent the cars with cities built onment water free from the tentacles of u.s. government
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outside u.s. jurisdiction. it is have the fax? yes ideas spread and because of that we live in a wonderful world. that is our show. tonight. what a wonderful world? all i hear is unemployment, ll pollution, soc ial conflict it is a goode that somebody puts it into perspective.is m a swedish public health professor and usually don't like to put them on theyu
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would put you to sleep but he has caught the roads attention because he gave a talk to technology entertainment decide more than 100,000 times here is part of it. >> when i saw my mother and though the washing machine for the first time in her life. >> even grandma was invited to see the machine. she had hand washed laundry for seven children and she sat down in front of the ch she watched the entire program and was mesmerized to my grandmother>> b the washing machine was a are
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>> there 7 billion people and most have no access to the miracle. hav >> 2 billion have access but the remainnng 5 billion how do they wash? like this. by hand. it is a hard time consuming labor that they have to do for hours every week. they want the washing machine that what the large part of their life doing this hard part with low productivity. but environmentally concerned students say that everybody can have them. how to retell this woman she cannot? >> students don't want them to? >> they are concerned aboutngou how many of you had to wash your genes?
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no one. s one time there was one boy. but there was it empty is circle. -e like it because it saves so much time. that industrial revolution then they say the and the is the power station and chemical processing industry. >> this was not viewed by several hundred thousand. >> my talk is 10 million. john: you do a presentation that people were miserablyeo pour battle the recently have things changed here is a life span. this is wealth.
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for most of history people were down here. that many people are still stuck here. >> 1800 everybody was down eight years. then they started here is the you representation and some countries are getting wealthy like the united states of america. the united states decided to catch up now austria and new zealand now they are on top pushing forward but the rest of the world that is dominated but from the '60s you have small families and
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then the economy is good. they are catching up. then 2010 they borrow money to the richest. john: this raises to amazing results. thousands of years of human history. and everybody was stock in the lower left over thousands of years. this is just hundreds of years why are some countries still stock? >> this is the condo with the best messagest moste african countries have fast economic growth. their ideas of 20 years ago they have a better education
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event to antonia from 1970 to. so we can see the african john: this is wonderful. now we will all be rich. >> now at his $2 million not because they are stupid. allport people are clever or they would be dead. john: they have no love lost. >> no. or excessive credit but locked into a vicious circle of poverty. it takes a small investment to get them now.g with the young couple decides to grab the condom or the pill with two kids
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that means we build a decent house then they take off. the world is governed fromank the bedroom. not that the banks monday economy but the young couple, john: once they are educated they can have smaller families. >> with the fantastic investment of immunizations so they don't have one kid that is physically handicapped. the way government resources are used something slight advance research we need the government money l. john: next to a muddy you want to live until 150 the next person may have already
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been born. howl evades is in medicine may change everything. this is flo. i need you. i feel so alone. but you're not alone. i knew you'd come. like i could stay away. you know i can't do this without you. you'll never have to. you're always there for me. shh! i'll get you a rental car. i could also use an umbrella. fall in love with progressive's claims service.
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whensome people struggle with their mortgage payments, they become frozen, petrified. not knowing at to do, they do nothing, but the people who do something, the people who take action, are far more likely to get the most positive outcome. making home affordable is a free government program. call now to talk one on one with a housing expert about the options that are right for you. real help, real answers right now.
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john: for most of human history people die by age 30 years. the average life span for thousands of years. on the with the industrial revolution did that change. then it changed quickly by then 40 years old. then 47. 1950, a 68. know it is about 78. a and the numbers will only go up. said our next guest the author of the bookll went of hundred + how the coming a
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of longevity will change everything. everything? >> i take the premise it is possible and the relatively short term for average life expectancy to be at 150 ali years. w john: people say that is creepy that we are miserable. >> we will be healthier for longer periods of time and be productive, energetic. john: and we're healthier because they intend to body part replacements spinet may have been able to already createon war begins with ahave stem cells. trachea, bladder has already been made already. li john: what about your life?
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you change jobs, you live longer. >> but there is a much more opportunity if you want to a be a doctor or a lawyer and an entrepreneur is tough to ye have those three carriers because two of them requiremore a lot of education.ly with a logger or healthier life span we can go back for education to try a new career. john: it will change families? >> we will be around longer, more marriages, a fertility extends there will be a lot more diversity his.>> john: a sibling could be 50 years younger.hey this creeps' me out a little
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should not live longer thatuy you've they shall lose purpose. one guy said if i may get 75 i am tie. is there a natural cycle? >>guest: i think people tend to say that because they assume as you get older you also get ill but when that is the case, you do lose your lust for life but if you are healthy and energetic, there is so much more to do and you think about it, you never have enough time to do everything you want, do you? we need more time. >> there was a profile of the person, the billionaire who wrote the forward to your book, and it was silly,and a silly things they said was that this extending life is not a good idea because the technology will be available to rich people first and it will add to inequality. >>guest: that is a knee-jerk reaction b we hear that when you talk about any type of new technology.
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think when cell phones first came out. only theich people had cell phones. yes, they were the size of a brick and you carried around in a briefcase and it is a good thing they funded that technology because it led to cheaper devices that we now use. >> eventually, your point, is it will get to everyone. the guy who wrote the forward says the biggest inequality is define those who are alive and dead but the rich people experiment first, they will get hurt first by the mistakes. >>guest: that is right. they take the most risk and put the most capital forward. in some ways it is good that happens. the biggest question, how long does it take between the rich getting it and the pr getting it and that is shrinking for new technology. that divide. >> thank you, sonia, more on our wonderful world. despite what the media whines about, it is a wonderful world. more on that when we come back.
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>> google. intel. e-bay. yahoo, think of the wealth they created. 100,000 millionaires. and south africa computer program has it easier than whe the indians want to come in but
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they have to wait six years. so, what if america did not let ogle or yahoo founders in? we would have lost a lot. so, since american politicians are not taking steps to change the rules to allow more entrepreneurs to come here to work, dario and max, my guests, have set out to build a ship and keep it off the coast of california outside the reach of immigration controls and foreign entrepreneurs could work here, is that the idea? >> that is correct. were creating what we call a visa free technology incubator on aship, 12 miles off the coast of the bay area. >> definitely miles escapes the rules of the united states. >>guest: it is outside the territorial waters. >> the idea is and you are from the silicon valley area, that you can come to america with a
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work visa and work three months or six months but you cannot stay so you have the four engineers on the boat and the silicon valley tech geniuses go back and for the and work with them? >>guest: when you come for a few months on tourist or work visasou cannot work, so there is no avenue where the entrepreneurs can come hour and create the companies which create the jobs and the economic growth and the prosperity and put silicon valley on the map. >> time is needed for the companies to grow and enable them to have that period of time to meet relevant investors and they can grow. it is an incute baiter to get the small companies to be able to blow. >> you call it the blue seed project? why not green egg?
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>> blue because it is on water and seed is a small company before it grows into the next google or facebook. >> it is the googl plex of the sea. >>guest: we are familiar with google, the real google plex where intelligent and creative people can work a fantastic set of circumstances. >> that is what google called office space station. >>guest: a nice environment, which is conducive to creation of new products and new companies, and we like to copy that model on our vessel. >> youame up with this idea after graduate school? >>guest: when i was in gruate school i got my mba from the university of miami and many peopl from all ports of the world, india, europe, china, who wanted to stay here after they graduated and work on their companies, create new start-ups,
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but they were unable to do so because after you graduate you get a job with an existing company or you leave and for many them that was not a good option and they left and took their ideas and companies with them. >> so th get their fancy education here and go back to indian or somewhere else. >>guest: w would like to stem the tide and keep them closer, and bring them back to the united states so they can create new job and new companies. >> if they worked for a company they could have stayed? >>guest: if you get sponsored by a large corporation you can get the prop visas to work in the country but you cannot self sponsor and you cannot be here and create your own start-ups without going through some pret significant legal work. >> to build this big ship where people live cost as lot of money and peop are actually giving you money fo this? >>guest: theface book funder and creator of pay pay pal is
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helping us and bringing in a number of investors. he will give us a significant fraction of what we still need to raise our seed funding. >> we called one of the large immigration reform groups, they call themselves, they limited on immigration, and they said they could have paid a higher wage and found americans to do this engineering work. this is nautical grandstanding. >>guest: i would like to address that. basically, it is a way for companies to come so instead of leaving the united states they will be coming into the united states d it is the opposite of wh that gentleman mentioned. >> and you are both immigrants yourself. >>guest: yes. parents are from cuba. they came over when castro took power and now they entrepreneurs. >> you are from yugoslavia? >>guest: yes from the ex
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yugoslavia. >> there is something about people who want to leave their country and go do a new country that makes them more likely to not only kill us but to build something. >>guest: they have the entrepreneurial spirit. that is what boosted the can do attitude which is the american trade that has a lot to do with a fact that this is a nation built by immigrants, so, try to provide a solution to a problem, an entrepreneurial solution ourselves. >> you are doing that, so, thank you, car i don't and max, coming up, ideas have...sex. what? what? that sounds inappropriate the my quest says it is what makes our world so wonderful. he is right. he will explain when we come he will explain when we come back. [ male announcer ] how do you trade? with scottrader streaming quotes, any way you want.
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>> now, let's talk about ias having sex. you have one idea. she goes to a bar and meets another idea. they get together and days or months later, i am not sure how it relates, but a baby results and the baby has the best traits of both parent when ts happens a lot, everyone gets smarter and the world gets better. i know this seems like a weird
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concept. it seemed weird to me when i first heard it but the more i thought about it the more right it seemed. now to a british journalist, the reason, you say, life gets better is ideas have sex, in effect. >>guest: ideas spread through exchange and trade and when they meet they can mate and you c produce combinations of diffent ideas. ploy favorite example is camera pill which takes a picture of your insid coming about after a conversation of a guided missile designer and a gastro terologist. the meeting of ideas causes innovation in culture. >> the genes do not have brains, they can meet and you get something bad. >>guest: that is true.
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it is true with us. you can combine two ideas and come up wi a worse idea but no oneicks it up, no one takes it off. if you come up with a better idea it spreads at the expense of the baddie and the recombining and what we do. the more we trade, the more we exchange, the more it happens. >> and the better life gets in general. >>guest: absolutely. our living standards have shot up in my lifetime. the average income of the average person is throw times what it was when i w born and life span is30 percent longer and child mortality is two-thirds lower that is because we keep improving each other's living standards. >> so, you like to show people this picture. >>guest: the object on the left is a hand a and from half a million years ago and sits on my desk at home, the hand ax and next to is the computer mouse, and they are the same size and shape and the ax was
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madeed without a change in design for half a million years. it is made from a single substance and the mouse is made from a bunch of different substances, plastic and metal and so on and it combines different ideas, that occurred to different people in different times and different paces and they all come together in this technology and that is how we are better off with the combinations of ideas. >> the mouse improves isften that t one i have a few years ago is already out of date >>guest: the one i took a picture of with the hand ax is no longer used by me. >> this work thursday a free exchange of idea but it does now work if there is central planning. >>guest: exactly the one thing about the way ideas come together and recombine is it actually creates things that are greater than the sum of the parts and things we do not understand. no one knows how to make a
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computer mouse, i am quoting. >> someone knows, i have a computer miscellaneous. >>guest: no one person. no one person. the knowdge is shared among lots of different people. this is the inside of the economist when someone said no one knows how to make a pencil. it is a collective brain that achieves this. when you try and substitute an individual's intelligence by putting a man in charge of computer mouse manufacturing he cannot do as go a job as the collection with each of us knowing a little bit of the picture. >> the computer mouse could have parts from china and india and the united states and hundreds of different people and the person who ships it and putst in the box. >>guest: it is --. >> a million people could contribute. >>guest: it probably is a million. they are all working for me when they made it because it is my mouse and you have to include the guy in brazil who is growing
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coffee drunk by the guy on the oil rig who was drilling for oil whose oil would be ud in the plastic factory, et cetera, they were all woring for me and that is the beauty of theystem we have created, we work for each other all the time. we are each other's servants. >> but no one is bossing people around it is voluntary. >>guest: that is right. no one forces you to go out and buy a computer mouse or forces the guy who made the mouse to work for me or me to work for him because i am working for him because i have the money from my work to buy the mouse. >> you argue that even if dumb people get together and have their ideas have sex that comes up with better results than the brilliant central planner. >>guest: thing this is why the obsession with i.q. and whether this groups have higher i.q. is mistaken, if you look at human history, lotsf people in a
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room who are talking to each other, however stup they are, can achieve a lot more tha a lot of clever people in the room who never talk t each other. it is not individual intelligence that accounts in how well a society works but how well people communicate and exchange ideas. >> and the result, you mentioned high are living standards, longer life span, think of one of the richest people in the world at the time, louie the 14th. his life at the time was wonderful. >>guest: he had 498 people to prepare his dinner each night according to some person's book i read. you have 500 people preparing your dinner tonight. they are in cafes and restaurants and shops all over town. it is probably a better meal that he had because he probably didn't have man goes very office den and he probably had salmonella more often than you do. >> and i have air conditioning and flush toilets and things he didn't have becausef the invisible hand. >>guest: if you took your own
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sary back 40 years and tried to, time traveled back to the 1960's, you would be rich as a king compared to everyone else but, hever, you still could not buy a really good latte from a coffee vendor in the street r get a mobile phone signal so there are a ton of things that live has improved even over and above monetary improvements. >> so, because of this, you call yourself the rationale optimist and you wrote a book of that title. >>guest: i was fed up with pessimist. when i was a student in the 1970's therown ups said the future of the world was bleak, oil was running out, the population explosion was unstoppable. >> there was a book "the polation bomb, race to oblivion otherwise" the world
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would run out of oil by 1992 by natural gas, in 1994, and aluminum would be gone by 2003 and so on. >>guest: all these predictions made ithe 1970's and i believed them and a lot of people i knew did, and i feel crs that no one said anything optimistic to me how the resources may not run out, they could become more abundant, they could get chief -- cheaper rather than more expensive, and we could do less damage and our cities could have cleaner air and rivers, and all of these things haveappened and we have healthier and happier and more chfer peaceful and more equal, if you look at the picture globally. >> because ideas have sex. now, bill gates criticized this
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optimism saying you fail to see that worry about the worst case can actually help drive a solution. >>guest: i don't think that is really true. if you look where the solutions come from, they come from optimistic people living in rich people like steve jobs or leonardo in italy. they are not driven by desperation or worry. in fact, i think it is the pessimists who are the complacent ones these days because they are saying, you know this is as good as it can get. we cannot make it any better. we better be careful about modified foods in indicate they are worse than existing technology. i think this world is great. but it is a veil of tears compared to what w could achieve. >> and could achieve. so, thank you, matt ridley.
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coming u who wants do go into space? soon we will all be able to go there.
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>> i talk about how innovation makes life better but where is the innovation coming from? politicians say from government. the big success story is america putting a man on the moon but think about it, yes, nasa put a man on the moon but they spent billions and have not been back in 40 years. by contrast, an organization called x prize is offering a prize and now a space ship launched three people into space. they won $10 million. there is another x prize offered for a private moon landing.
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here is a sample of the device of a lander that is being tested negotiation governnt money, none of your taxes involved, 80ive innovation driven by entrepreneurs taking the risk. competition if a car that gets 100 miles per hour has drawn nearly 100 entrepreneurs. the design competition was first, the cars had to pass the looks test. these cars did. next is the race. 54 teams will compete to win. the man who raised the money if the prize and organizeed the organization is here. >> we have entrepreneurs and scientists and engineers to do what only government could do. >> peter joins us from los angeles. you have new prizes now? >> we do. we are having a lot of fun figuring where there could be breakthroughs that you not going
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on or being driven by large companies or government that is challenging entrepreneurs to make the impossible, possible. >> where do you get the money? who put up the x prize? >> the money, really, comes from a range of different groups, including individuals, and philanthropists and competitions or large corporations, progressive insurance or companies such as that, wantin to make a difference in the world. >> often, w assume this innovation has to be pushed by a government. >>guest: today, more than ever, we have individuals and small teams that technology literally the ability to do extraordinary things with artificial intelligence and robots and computing power at our fingertips, that only the governments are large corporations had. >> there is a difference with th incentive.
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the government is top down central planning compared to a contest that stimulates the entrepreneurs to try new stuff. >>guest: anyone around the world who solved this first wins. literally, when you look if needle in the haystack, the needle comes to you so we have tens or hundreds of teams from around the planet, some of which you may never have found because they come into existce because of the competition and say, maybe i can do that. they come with very nontraditional ideas and you think about it, the true break through the day before something is a breakthrough it is a crazy idea and the incentive competitions allow if crazy competitions to demonstrate what they can do and become the breakthroughs of tomorrow. >> if you have $10 million offered for a car that gets 100 per gallon, if someone invents that, they make more than that in the market.
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>>guest: so, as humans, we are wired to compete. we do our best when we compete and in sports and different parts of our lives and putting up a challenge and saying, this could be impossible but here is a very clear objective goal and the first person to pull this offins. it gets you, it enters our psyche and it drives people to say, how could i do that, how would i do that, and they form teams and they go after it, and we are hearing all about the news recently about the launch vehicle, and the prize was won by burt who was inspired by a competition. in were 26 teams competing and it launched a multibillion
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dollar industry so that is the kind of leverage. and you only pay the winner that the incentive prices can create. >> last year a billionaire richard branson bought it and is testing a space ship that he will use to take tourists in to space. >>guest: i have my ticket. >> this is not a new idea. >> charles lindbergh risked his life to fly to paris because of the $25,000 flight and today that would be worth $300,000. >>guest: that was my incentive. i read about him crossing the atlantic in 1927 to win $25,000 prize and what a powerful way to incentivize breakthroughs and took us back through history the prize prizes that will
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incentivize. one cool prize we had, a philanthropist i s valley saw the b.p. oil spill that was going on and it was going on and on and on and on and we literally thought, what can we do in and james cameron said, why not look at cleaning up oil spills so we held a competition andaid, for the last 21 years from valdez to b.p. oil the best anyone had done was 1,100 gallons a minute to clean up. >> you offered a milln to improve on that? >>guest: she offered $1.4 million to improve on that and you figure, what could $1.4 million do? this has been multibillion dollar industry, oil spills have been going on for a long-term and the technology has been stagnant. we had 350 teams preristered and we narrowed it to top ten and last year seven out of the
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ten teams that competed dbled the industry standard and the winning team qurupled the industry standard so they nor you going into production and hopefully we will reinvent how to clean up oil spills and it shoc how a million or $10 million can reinvent an industry. >> this makes for a wonderful world with lots of abundance which is the title of your new book coming out. thank you, peter. >> next, my take on a wonderful world.
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>> the media does lots of complaining. unemployment is high. so is the debt.
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iran is working on bombs. global warming could kill us. libertarians are skeptical about that but the debt is rising. there is toouch regulation. these kill jobs. fools in power add more. the bureaucracy of obamacare is coming. e drugar range is on and the nanny state raises food markets. give us a break. the news bsiness we focus on bad news. it is our job. if a plane crashes and kills us that is news. if not, it is nation but it is not news. so, it is good near the end of the year to step back once and notice tis is a wonderful world. even though we constantly add the stacks every dick louse regulation, entrepreneurs over come it. their ideas have sex with other people's ideas and give birth to
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better things. i don't know what the next breakthrough will be, the next cw50 lend to a washing machine or an ipad. but i am sure there will be some. maybe it will come from a competition like the x prize. charles lindbergh first crossed the atlantic to win a prize. six people died trying to win it. lindbergh succeeded because he came up with new ideas saying, why need a co-pilot, i will fly solo to save weight. he trimmed the edges off the maps to save weight. people called him crazy but he succeeded. he did what government said couldn't be done and brought in the age of commercial aviation. life in america is tough for lots of people today, life for most is a better life than ever existed in the history of the rld. we live longer than ever. this is a chart of the average
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life span, which is why entitlements will bankrupt us. unemployment is still before 8 percent and i blame big government and the regulation but step back and remember, this year, america did add 1.4 million new jobs. if we have 10 percent of unmonth i that means 90 percent of those who want work ha work and income. again, in the history of the world, that is unusual. the water and air are cleaner than they used to be and they keep getting cleaner because of technology invented by capitalists. capitalism could be volly filed by the media but it makes our lives better and on this show we celebrat it. thanks if joining us this year. that is our show for tonight. good night.
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